Today’s Stock Market Has Netflix Stock Surging

The major stock indexes moved squarely lower in today’s stock market. Fed minutes will be released later in the trading day. FANG stock Netflix (NFLX) soared early Wednesday after reporting an earnings beat after the stock market close Tuesday, while United Airlines (UAL) flew higher. (For updates on this story and other market coverage, visit the Stock Market Today.)

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The Dow Jones industrial average led the stock market lower, falling over 200 points, or 0.8%. The tech-heavy Nasdaq composite and S&P 500 fell about 0.5% apiece.

Earnings: Netflix, United Higher

Among companies reporting earnings, FANG stock Netflix soared as much as 9.7% before trimming gains to 6% in morning trade after beating the Street’s estimates for new subscribers in the third quarter. Shares jumped back above their 50-day line, as they deal with resistance around the 380 price level. The stock found support at its long-term 200-day line in recent trading sessions.

United Airlines rallied over 4% early Wednesday, reclaiming its 50-day moving average line. Late Tuesday, the company raised its full-year earnings guidance.

Bullishly, the stock’s relative strength line is nearing a new high. Shares are just 4% off their 52-week high despite last week’s market sell-off. According to the IBD Stock Checkup, United is the No. 2-ranked stock in the Transportation-Airline industry group.

IBM (IBM) declined over 6% to hit a fresh 52-week low after missing Q3 revenue estimates late Tuesday. IBM shares are stuck in a multiyear consolidation.

Railroad company CSX (CSX) turned lower, falling 1% after beating Q3 earnings and sales targets. Shares are looking to regain their 50-day line, as they approach a flat base’s 76.34 buy point. The stock’s RS line is near a new high.

IBD 50 Stocks: Apple Clings To Support

Among the leading growth stocks, Apple (AAPL) fell almost 1% as it clings to the 50-day moving average line. Shares are fighting for support at the key level. The stock’s RS line is holding up well amid the recent market volatility, hitting a new high in recent trading sessions.

Meanwhile, embattled Chinese stock leader Momo (MOMO) declined over 6%. Shares are over 30% off their 52-week high after they gave up their 50- and 200-day support levels.